CVA Family Office LLC Has $1 Million Stake in Abbott Laboratories (NYSE:ABT)

CVA Family Office LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 2.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,555 shares of the healthcare product maker’s stock after buying an additional 183 shares during the period. CVA Family Office LLC’s holdings in Abbott Laboratories were worth $1,002,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories during the fourth quarter worth $25,000. Noble Wealth Management PBC acquired a new position in Abbott Laboratories during the fourth quarter worth $26,000. NewSquare Capital LLC increased its holdings in Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after buying an additional 105 shares during the last quarter. WealthTrak Capital Management LLC acquired a new position in Abbott Laboratories during the fourth quarter worth $28,000. Finally, Rialto Wealth Management LLC acquired a new position in Abbott Laboratories during the fourth quarter worth $29,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director now owns 34,058 shares of the company’s stock, valued at $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Trading Down 0.8%

ABT stock opened at $135.41 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company’s 50-day simple moving average is $131.50 and its 200 day simple moving average is $126.37. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The company has a market capitalization of $235.59 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.74%. Abbott Laboratories’s dividend payout ratio is 30.61%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America boosted their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. The Goldman Sachs Group upped their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Jefferies Financial Group upped their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a report on Thursday, April 17th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.59.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.